WES vs. FDVV

Last updated Jun 13, 2026

WES (Western Midstream Partners, LP) is a stock, while FDVV (Fidelity High Dividend ETF) is Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index. Over the past 5 years, WES returned 24.68%/yr vs 13.53%/yr for FDVV. At a 0.44 correlation, their price movements are largely independent.

Performance

WES vs. FDVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Western Midstream Partners, LP (WES) and Fidelity High Dividend ETF (FDVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WES achieves a 17.89% return, which is significantly higher than FDVV's 9.30% return.

WES

• 1D: 1.43%
• 1M: -3.17%
• YTD: 17.89%
• 6M: 18.16%
• 1Y: 25.64%
• 3Y*: 30.48%
• 5Y*: 24.68%
• 10Y*: 10.52%

FDVV

• 1D: 0.57%
• 1M: 2.54%
• YTD: 9.30%
• 6M: 9.44%
• 1Y: 23.92%
• 3Y*: 19.75%
• 5Y*: 13.53%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

WES vs. FDVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WES Western Midstream Partners, LP	17.89%	12.77%	43.58%	19.46%	29.29%	72.31%	-19.13%	-22.65%	-20.23%	-8.01%
FDVV Fidelity High Dividend ETF	9.30%	17.08%	21.81%	18.00%	-4.21%	29.24%	2.80%	24.07%	-1.26%	14.00%

Correlation

The correlation between WES and FDVV is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016	0.44

Over the past year, the correlation between WES and FDVV has dropped to 0.12 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.

Return for Risk

WES vs. FDVV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WES

WES Risk / Return Rank: 78
WES Sharpe Ratio Rank: 80
WES Sortino Ratio Rank: 72
WES Omega Ratio Rank: 73
WES Calmar Ratio Rank: 82
WES Martin Ratio Rank: 80

FDVV

FDVV Risk / Return Rank: 73
FDVV Sharpe Ratio Rank: 81
FDVV Sortino Ratio Rank: 82
FDVV Omega Ratio Rank: 81
FDVV Calmar Ratio Rank: 56
FDVV Martin Ratio Rank: 64

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WES vs. FDVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Western Midstream Partners, LP (WES) and Fidelity High Dividend ETF (FDVV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	WES	FDVV	Difference
Sharpe ratio: Return per unit of total volatility	1.29	2.24	-0.95
Sortino ratio: Return per unit of downside risk	1.76	3.14	-1.38
Omega ratio: Gain probability vs. loss probability	1.23	1.41	-0.18
Calmar ratio: Return relative to maximum drawdown	2.77	2.44	+0.33
Martin ratio: Return relative to average drawdown	6.16	10.11	-3.95

WES vs. FDVV - Sharpe Ratio Comparison

The current WES Sharpe Ratio is 1.29, which is lower than the FDVV Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of WES and FDVV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WES vs. FDVV - Drawdown Comparison

The maximum WES drawdown since its inception was -93.66%, which is greater than FDVV's maximum drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for WES and FDVV.

Drawdown Indicators

	WES	FDVV	Difference
Max Drawdown Largest peak-to-trough decline	-93.66%	-40.25%	-53.41%
Max Drawdown (1Y) Largest decline over 1 year	-9.42%	-9.30%	-0.12%
Max Drawdown (3Y) Largest decline over 3 years	-16.65%	-15.90%	-0.75%
Max Drawdown (5Y) Largest decline over 5 years	-23.54%	-20.18%	-3.36%
Max Drawdown (10Y) Largest decline over 10 years	-91.90%	—	—
Current Drawdown Current decline from peak	-5.83%	-0.29%	-5.54%
Average Drawdown Average peak-to-trough decline	-28.49%	-3.80%	-24.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	2.24%	+1.99%

Volatility

WES vs. FDVV - Volatility Comparison

Western Midstream Partners, LP (WES) has a higher volatility of 7.47% compared to Fidelity High Dividend ETF (FDVV) at 3.16%. This indicates that WES's price experiences larger fluctuations and is considered to be riskier than FDVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WES	FDVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.47%	3.16%	+4.31%
Volatility (6M) Calculated over the trailing 6-month period	15.58%	8.16%	+7.42%
Volatility (1Y) Calculated over the trailing 1-year period	20.24%	10.12%	+10.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.20%	14.76%	+14.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.62%	16.98%	+29.64%

Dividends

WES vs. FDVV - Dividend Comparison

WES's dividend yield for the trailing twelve months is around 8.21%, more than FDVV's 2.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDVV Fidelity High Dividend ETF	2.70%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%	0.00%
WES Western Midstream Partners, LP	8.21%	9.13%	8.33%	8.52%	6.80%	5.69%	11.25%	12.45%	8.28%	5.43%	4.03%	3.86%

Frequently Asked Questions

Can I hold both WES and FDVV in my portfolio?

WES and FDVV have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WES or FDVV?

WES has higher volatility (7.47%) compared to FDVV (3.16%). In terms of maximum drawdown, WES dropped -93.66% vs FDVV's -40.25%.

Which has better risk-adjusted returns?

FDVV currently has the higher Sharpe Ratio (2.24 vs 1.29), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.